GOLDSTEIN PHILLIP 4

What Happened

• Phillip Goldstein, a director of High Income Securities Fund (ticker: PCF) and an affiliate of the fund’s adviser, made two open-market purchases: 5,088 shares at $5.45 on 2026-04-07 (reported value $27,725) and 600 shares at $5.53 on 2026-04-08 (reported value $3,318). Total reported outlay for these transactions is $31,043.
• These were purchases (transaction code P), which are often seen as a more informative sign of insider interest than routine sales, though no motive is stated in the filing.

Key Details

• Transaction dates and prices:
  • 2026-04-07: Purchase of 5,088 shares @ $5.45 (reported $27,725)
  • 2026-04-08: Purchase of 600 shares @ $5.53 (reported $3,318)
• Total shares purchased: 5,688; total reported value: $31,043.
• Footnote: F1 indicates the prices shown represent weighted average prices.
• Shares owned after the transactions: Not specified in the provided filing excerpt.
• Filing timeliness: Form 4 was filed on 2026-04-09 and appears to be timely (within required reporting window).

Context

• These were straight open-market purchases (code P), not option exercises, gifts, or awards. Purchases by directors can indicate confidence but are not proof of future performance; retail investors should consider them alongside other research and the fund’s fundamentals.